FY 2015 Budget Update Board of Selectmen February 18, 2014.

FY 2015Budget Update

Board of Selectmen

Board of SelectmenFebruary 18, 2014

FY2015 Budget Update

•Revenue Projections•Operating Budget•Educational Budget(s)•Capital Budget

Chatham Budget Update Feb 18, 2014

2

Revenues

•Allowable Growth estimated $819,800•Local Receipts increase $ 40,000•Departmental Fees review▫ Transfer Station Fees – increase may

offset tax levy•State Aid Governor’s (House 1)


3

FY2015 Revenue


4

Tax Levy (not Tax Rate)•Property Tax FY2015 –Allowable Growth•$30,533,306 vs $30,008,306 ▫now $30,033,159(all inclusive)▫2.33% increase (projected)

• Local Receipts ▫Transfer Station Fee Increase

•Other Available Funds▫Old Articles, Waterways;

•Flat to FY2014 based on Gov’s H1 (1/22/14)


5

Tax Levy


6

Local Receipts


7

FY2015 Operating Budgets

FY2013 Voted FY2014

TM Recommend

FY2015 % Change

I. General Government $ 1,898,390 $ 1,926,680 $ 1,982,884 2.9%

II. Public Safety $ 5,544,029 $ 5,754,115 $ 5,799,990 0.8%

III. Community Development $ 661,747 $ 715,365 $ 744,832 4.1%

IV. Health & Environment $ 805,927 $ 835,157 $ 859,986 3.0%

V. Public Works $ 4,252,406 $ 4,349,927 $ 4,458,063 2.5%

VI. Human & Public Services $ 921,677 $ 976,340 $ 999,260 2.3%

Sub-total: $ 13,896,630 $ 14,557,584 $ 14,845,015 1.97%

Continued on next slide


8

FY2015 Operating Budgets

FY2013 Voted FY2014

TM Recommend

FY2015 % ChangeI – VI sub-total $ 13,896,630 $ 14,557,584 $ 14,828,373 1.9%

(From prior slide)VII. Debt Service $ 5,852,861 $ 7,905,583 $ 7,658,244 -3.1%VIII. Employee Benefits $ 4,219,258 $ 3,952,910 $ 4,142,970 4.8%IX. Undistributed/Reserve $ 342,353 $ 501,135 $ 537,085 7.2%

Total, I-IX $ 25,876,851 $ 26,916,212 $ 27,183,314 0.99%


9

FY15 Expenses


10

Operating Budget (Article 6)

•FY2015 proposed - $27,166,672 ▫$27,183,314

•Increase of $250,460▫$267,102

•0.93% over FY2014▫0.99%


11

FY2015 Changes from Jan 28, 2014

Operating Budget• Community Development▫ Increase $16,642

• Monomoy Regional Schools▫ Decrease $26,595

• CCRTHS▫ Decrease $30,781


12

FY2015 Capital Plan Changes

• Police Vehicle – 1 additional for a total of three vehicles for FY15• Adds $32,000 (tax levy & old articles)

• Outboard Engine – for patrol boat• Adds $10,000 (from Waterways

Improvement Fund)


13

5 Five Year Capital PlanCAPITAL PROGRAM & BUDGET SUMMARY

FY 2015 FY 2015

Dept. Request TMGR RecommendationGeneral Government $217,500 $157,500 Public Safety 342,250 225,000Community Development 95,000 50,000Health & Environment 1,761,000 374,000Public Works (without Water) 1,363,500 938,500Equipment $587,800 $326,000 Total Town Funded Capital Budget 4,367,050 2,071,000Funding Sources: Free Cash 1,000,000 Waterways Improvement Funds 55,000 PEG Access Funds 30,000 Cemetery Sale of Lots 1,000 Shellfish Revolving Prior Articles 5,000Capital Exclusion Raise & Appropriate (available Tax Levy) 980,000 Total Funding Sources 2,029,000 2,071,000

($2,338,050) $0


14

Capital PlanChatham Budget Update Feb 18, 2014

15

Educational Assessments(Separate Articles)•Monomoy Regional ▫Overall Increase of 11.1% 10.9% in

assessment to Chatham ($819,604)▫793,009

▫Total Operating Budget 0.88% increase

▫Required Minimum Contribution ▫$336,245 due to change in FY14


16

Monomoy Regional School District


17

Cape Cod Regional Tech High School

• Budget Presentation 1/29/14

• Actual decrease in Chatham’s assessment▫Down 2 students from FY2014


18

Cape Cod Regional Tech High School


19

Next Steps

•Board of Selectmen Recommendations•Board of Selectmen Recommendations▫Presented 2/18/2014

•Budget Updates•Tax Levy – estimate•Sustainability – ▫5 year forecast (update)


20

FY 2015 Budget Update Board of Selectmen February 18, 2014.

Documents

slidechatham budget

budgetschatham budget

tax levychatham budget

chart data range

lower right corner of

public safety5

tax levysheet1tax levyseries

public works facilities4